– Friday Funny: Sino Forest Seeks $4 Billion From Muddy Waters In Damages… As It Files For Bankruptcy (ZeroHedge, Mar 30, 2012):
Actually, in retrospect this may well be the funniest pair of headlines in one place ever.
- SINO-FOREST TO FILE FOR BANKRUPTCY, MAY SEEK SALE OF COMPANY
- SINO FOREST SEEKING $4B IN DAMAGES AGAINST MUDDY WATERS
Uh? What? #Ref! #Ref! #Ref! We wonder: if Sino Forest files for bankruptcy in its forest of imaginary trees, did it really file for bankruptcy.
In other news, how many of the following analysts who had a buy on the stock as of the day the Muddy Waters report saved countless other investors the 100% certainty of a full wipe out by putting their money in Sino Forest, have been terminated.
The Following Sino Forest Sell-Side Analysts Should Be Terminated Immediately
As we pointed out the day after we broke the news that Paulson is about to suffer a historic loss on the Sino Forest Chinese fraud (a loss that has now been realized), the Paulson analyst who suggested this humiliating investment for the man who is now best known for hiring Paolo Pellegrini, have long since seen the pink slip. The story however does not end there: below we present again the sell side analysts who had Buy and Outperform ratings on what is now the biggest financial ponzi fraud since Madoff. In order to protect the reputation of such host firms as Raymond James, Dundee Securities, TD Newcrest, Credit Suisse, RBC, BMO and Scotia Capital, we urge the management teams to immediately terminate the following sell-side “analysts” whose work on TRE.TO was nothing but piggybacking on groupthink, doing absolutely no actual due diligence, costing clients billions in losses, and whose names will now forever be enshrined in the pantheon of “most worthless sellside analysts” ever. Continue reading »
Tags: Bankruptcy, China, Economy, Global News, Hedge Funds, John Paulson, Sino Forest